GM's Canadian auto sales soar 31 percent in November

Allison Lampert

2 Min Read

MONTREAL, Dec 1 (Reuters) - General Motors Co said on Thursday its Canadian sales rose 31 percent in November, compared with the same month a year earlier, fueled by strong demand for SUVs and light trucks and two extra selling days.

GM dealers delivered 28,523 vehicles in November 2016, an increase of 31 per cent compared to November 2015, the company said in a statement. GM Canada sales are up 2 per cent year-to-date.

“November was an outstanding month for sales of cars, trucks, crossovers and electric vehicles to consumers in all regions of Canada,” said John Roth, vice president, sales, service and marketing for GM Canada.

According to the statement, last month had 26 selling days while November 2015 had 24 selling days.

Analysts expect Canadian auto sales to set a new record in 2016, rising to 1.96 million vehicles, up from a record-breaking 1.90 million units last year. But after a strong first half this year, sales have declined in August, September and October on an annual basis.

In the United States, hefty consumer discounts during a robust Black Friday weekend helped boost November U.S. auto sales between 4 percent and 5 percent, which could catapult results this year above a record high in 2015, economists and industry analysts said on Thursday.

The record discounts, also called incentives, have some industry analysts concerned that the auto sales boom since the 2008-2009 financial crisis will end or at best keep sales at current levels into the next few years. (Reporting by Allison Lampert; Editing by Paul Simao)